3: Net present value calculation using formula 4 marks The branch library needs to replace its copier, as the current copier has reached the end of its lease term. One option is to replace the leased copier by buying a copier at a price of R6w xyz. This will reduce the annual operating cost by R14 900. Use a discount rate of 8 percent, and the discount table on p105 of Burger (2014). What will the NPV be after four years? What will the NPV be after five years